QNXT vs. QCAP

Last updated Jun 4, 2026

QNXT (iShares Nasdaq-100 ex Top 30 ETF) and QCAP (FT Vest NASDAQ-100 Conservative Buffer ETF - April) are both Nasdaq-100 funds. QNXT is passively managed, while QCAP is actively managed. Over the past year, QNXT returned 25.34% vs 11.06% for QCAP. A 0.77 correlation means they provide meaningful diversification when combined. QNXT charges 0.20%/yr vs 0.90%/yr for QCAP.

Performance

QNXT vs. QCAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Nasdaq-100 ex Top 30 ETF (QNXT) and FT Vest NASDAQ-100 Conservative Buffer ETF - April (QCAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QNXT achieves a 15.67% return, which is significantly higher than QCAP's 5.23% return.

QNXT

• 1D: -0.61%
• 1M: 9.65%
• YTD: 15.67%
• 6M: 13.13%
• 1Y: 25.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QCAP

• 1D: -0.08%
• 1M: 2.34%
• YTD: 5.23%
• 6M: 5.92%
• 1Y: 11.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

QNXT vs. QCAP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QNXT iShares Nasdaq-100 ex Top 30 ETF	15.67%	14.97%	-2.52%
QCAP FT Vest NASDAQ-100 Conservative Buffer ETF - April	5.23%	7.13%	1.99%

Correlation

The correlation between QNXT and QCAP is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (All Time) Calculated using the full available price history since Oct 25, 2024	0.77

The correlation between QNXT and QCAP has been stable across timeframes, ranging from 0.74 to 0.77 - a consistent structural relationship.

Return for Risk

QNXT vs. QCAP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QNXT

QNXT Risk / Return Rank: 49
QNXT Sharpe Ratio Rank: 50
QNXT Sortino Ratio Rank: 49
QNXT Omega Ratio Rank: 47
QNXT Calmar Ratio Rank: 52
QNXT Martin Ratio Rank: 49

QCAP

QCAP Risk / Return Rank: 97
QCAP Sharpe Ratio Rank: 96
QCAP Sortino Ratio Rank: 98
QCAP Omega Ratio Rank: 98
QCAP Calmar Ratio Rank: 98
QCAP Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QNXT vs. QCAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Nasdaq-100 ex Top 30 ETF (QNXT) and FT Vest NASDAQ-100 Conservative Buffer ETF - April (QCAP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	QNXT	QCAP	Difference
Sharpe ratio: Return per unit of total volatility	1.70	4.17	-2.47
Sortino ratio: Return per unit of downside risk	2.37	7.37	-5.00
Omega ratio: Gain probability vs. loss probability	1.29	1.99	-0.70
Calmar ratio: Return relative to maximum drawdown	2.50	13.50	-10.99
Martin ratio: Return relative to average drawdown	8.17	67.84	-59.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QNXT vs. QCAP - Sharpe Ratio Comparison

The current QNXT Sharpe Ratio is 1.70, which is lower than the QCAP Sharpe Ratio of 4.17. The chart below compares the historical Sharpe Ratios of QNXT and QCAP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QNXT	QCAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	4.17	-2.47
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	1.26	-0.36

Drawdowns

QNXT vs. QCAP - Drawdown Comparison

The maximum QNXT drawdown since its inception was -22.25%, which is greater than QCAP's maximum drawdown of -9.17%. Use the drawdown chart below to compare losses from any high point for QNXT and QCAP.

Drawdown Indicators

	QNXT	QCAP	Difference
Max Drawdown Largest peak-to-trough decline	-22.25%	-9.17%	-13.08%
Max Drawdown (1Y) Largest decline over 1 year	-10.16%	-0.82%	-9.34%
Current Drawdown Current decline from peak	-0.61%	-0.08%	-0.53%
Average Drawdown Average peak-to-trough decline	-3.79%	-0.52%	-3.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	0.16%	+2.95%

Volatility

QNXT vs. QCAP - Volatility Comparison

iShares Nasdaq-100 ex Top 30 ETF (QNXT) has a higher volatility of 3.52% compared to FT Vest NASDAQ-100 Conservative Buffer ETF - April (QCAP) at 0.99%. This indicates that QNXT's price experiences larger fluctuations and is considered to be riskier than QCAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QNXT	QCAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.52%	0.99%	+2.53%
Volatility (6M) Calculated over the trailing 6-month period	10.92%	1.93%	+8.99%
Volatility (1Y) Calculated over the trailing 1-year period	15.05%	2.69%	+12.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.73%	8.73%	+11.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.73%	8.73%	+11.00%

QNXT vs. QCAP - Expense Ratio Comparison

QNXT has a 0.20% expense ratio, which is lower than QCAP's 0.90% expense ratio.

Dividends

QNXT vs. QCAP - Dividend Comparison

QNXT's dividend yield for the trailing twelve months is around 0.60%, while QCAP has not paid dividends to shareholders.

Position	TTM	2025	2024
QCAP FT Vest NASDAQ-100 Conservative Buffer ETF - April	0.00%	0.00%	0.00%
QNXT iShares Nasdaq-100 ex Top 30 ETF	0.60%	0.64%	0.22%

Frequently Asked Questions

Can I hold both QNXT and QCAP in my portfolio?

QNXT and QCAP have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QNXT or QCAP?

QNXT has higher volatility (3.52%) compared to QCAP (0.99%). In terms of maximum drawdown, QNXT dropped -22.25% vs QCAP's -9.17%.

Which ETF is better, QNXT or QCAP?

On 1-year performance, QNXT leads with 25.34% vs 11.06% for QCAP. On fees, QNXT is cheaper at 0.20% per year. On volatility, QCAP has been the lower-risk option at 0.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QNXT or QCAP?

Over the 1-year period, QNXT has performed better with a 25.34% return vs 11.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QNXT or QCAP?

QNXT is cheaper with a 0.20% expense ratio, compared with 0.90% for QCAP.

Which ETF pays a higher dividend yield, QNXT or QCAP?

QNXT has the higher dividend yield at 0.60%, compared with 0.00% for QCAP.

What is the main difference between QNXT and QCAP?

They also come from different issuers: iShares and FT Vest. Their fees differ too: 0.20% for QNXT and 0.90% for QCAP.

Which has better risk-adjusted returns?

QCAP currently has the higher Sharpe Ratio (4.17 vs 1.70), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.